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In the following video, Fool analysts David Williamson and Austin Smith discuss Dendreon and some areas investors need to watch.

For health-care investors, Dendreon was one of the most exciting stocks of 2012, and it may be for 2013 as well, Austin says. But the microcap biotech landscape can be pretty tough for individual investors to navigate.

For a one-trick pony like Dendreon, the company's short-, mid-, and long-term hopes all rest on its prostate-cancer treatment, Provenge, David says.

Investors can think of it a bit like a retail company. A company can keep growing by adding stores, but the best measure of success is its same-store sales.

Since the start of 2013, Dendreon has seen sales at its existing sites go from decelerating to declining. That means doctors may not be seeing enough benefit in the drug to keep prescribing it, David says.

Dendreon has also been restructuring after building three plants to make a product for which demand never materialized. It has closed one of those, and investors will want to watch for additional cost-cutting measures in the coming quarters.

And finally, a large debt payment looms in 2016, and it could be a challenge for Dendreon to meet that payment, David says.

Dendreon's run over the past four years has seen sub-$5 share prices skyrocket to 10-bagger status before tumbling all the way back down below $5, as its revolutionary prostate cancer vaccine, Provenge, became a lightning rod for debate. But where does that leave investors -- other than a bit nauseous from the roller-coaster ride? Our own David Williamson answers this question, and many more, inside our brand-new premium research report on Dendreon. Inside, he details every key issue facing the company and outlines just how Dendreon intends to regain its former glory. The report also comes with a full year of analyst updates, so claim your copy of this exclusive report today by clicking here now.